US TAXATION SUPPORT FOR RESIDENTS AND NON-RESIDENTS

Where Do You Call Home?

Each year, we help hundreds of families, small business start ups, entrepreneurs and mature corporations to navigate the plethora of tax laws that pertain to their specific financial picture.

Our years of experience in taxation, business advisory roles, succession planning,  estate planning & trusts seasoned by senior financial management positions in private companies, ensure you’re gaining proven wisdom and in depth thinking.  When it comes to your company’s growth, our professionals will work with you to develop the appropriate strategies to save you money and maximize returns.

Understanding how changes in domestic and international regulations can impact your company is critical.

You operate a business in Canada, but your business dealings may touch in many areas across the border, or abroad.  Understanding how changes in domestic and international regulations can impact your company is critical.

Cross border interaction expands your market, but being fully aware of potential US tax liabilities is your foremost responsibility.

Let DSK guide you with tax planning strategies that will prepare you for your cross border tax obligations, keep you informed, and work to reduce your tax burden.

Contact us today to discuss proactive tax planning solutions for your business.

US Tax Reform Updates

Cross Border Business Transactions

Our vibrant global economy has been encouraging steady expansion into cross border markets with no signs of slowing down! Trends show that more and more, individuals and businesses are establishing working relationships, purchasing real estate, and calling both sides of the border “home”. DSK can help you understand your reporting requirements, and put together a comprehensive tax planning strategy. As either a Canadian or US resident, you may have investments or business transactions that effectively fall outside of your country of residence.

We’ll ensure that you have a clear understanding of your tax obligations on both sides of the border.

Non-Resident, Non Filer Streamlined Procedure for U.S. Persons

Since June 2012, the IRS has administered a streamlined filing program to allow non-compliant U.S. persons to become compliant with their tax filing obligations. The program requires a U.S. person to file the last three years of personal income tax returns, as well as the last six years of Reports of Foreign Bank and Financial Accounts (FBARs). Additional reports may be required based on the specific taxpayer’s situation. There is also a questionnaire and potentially specific declarations that need to accompany the filing package.

Compliance with FACTA

DSK can help you understand your reporting requirements, and put together a comprehensive tax planning strategy.

 

Citizens Living Abroad

If you’re a US citizen or a green card holder, you’ll likely have US tax filing obligations even if you haven’t been to the USA or left several years ago.

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Know Your Filing Requirements!  For more information, contact Jason Kingston at jasonk@dskcpa.ca